Data: XRP approaches $2, but its price and trading volume show an inverse correlation

XRP prices have risen 232% in the past 30 days, and its on-chain indicators also show a positive recovery for XRP. Xrpscan data shows that the number of active accounts or independent senders on the XRP network has increased from 15,592 on November 1 to 47,044 on November 16. The total number of active accounts doubled on average in November (up 100%) from around 12,000 to 25,000 this month. Similarly, the number of new accounts activated by XRP ledgers in November also increased significantly, indicating a large influx of new users on the network. Analysis believes that the current XRP target price may be between $1.95 and $2.05, but it is important to note that since November 16, XRP prices and trading volumes have shown an inverse correlation, indicating that XRP is going through a distribution phase and market traders may be looking to sell. (Cointelegraph)